The federal and Quebec governments have awarded the Bromont start-up more than $570,000 in financial assistance
BROMONT, QC, Jan. 22, 2019 /CNW/ - Canada Economic Development for Quebec Regions (CED)
Zeal Motor Inc., a small and medium-sized enterprise (SME) with strong commercial potential, has developed a unique line of industrial off-road vehicles that meet the requirements of energy providers and mining companies. The new innovative start-up received $573,300 in financial assistance from the Government of Quebec and the Government of Canada, which will allow it to grow and quickly break into the market.
Member of the National Assembly for Brome-Missisquoi and Minister for Education Isabelle Charest, on behalf of Minister of Economy and Innovation and Minister Responsible for the Lanaudière Region Pierre Fitzgibbon, and Member of Parliament for Brome-Missisquoi, the Honourable Denis Paradis, on behalf of Minister of Innovation, Science and Economic Development and Minister responsible for Canada Economic Development for Quebec Regions (CED), and for the National Research Council of Canada (NRC), the Honourable Navdeep Bains, made the announcement today.
Through its Programme Exportation (PEX), the Government of Quebec granted Zeal Motor $54,300 to help with the implementation of an international marketing strategy. In addition, Investissement Québec has offered the company a $150,000 loan guarantee.
The Government of Canada granted the business $369,000 in financial assistance. The National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP) provided a non-repayable contribution of up to $150,000 for a research and development project to support Zeal Motor Inc. in developing a prototype model of this new type of vehicle.
For its part, CED granted the company a repayable contribution of $219,000 under the Quebec Economic Development Program, which allowed Zeal Motor to finalize product development (final drawings, certification, patent) and launch marketing activities in Canada and the United States.
"Competitiveness and exports are key to regional economic vitality. That is why our government is proud to help Zeal Motor, an innovative and promising start-up in the region, diversify and conquer foreign markets."
Isabelle Charest, MNA for Brome-Missisquoi and Minister for Education
"Zeal Motor has demonstrated exceptional talent when it comes to developing world-class products that meet real industrial needs. I am proud of the Government of Canada's support, which will enable the company to grow, create quality jobs and help stimulate the region's economy."
The Honourable Denis Paradis, MP for Brome-Missisquoi
"Exports afford Quebec manufacturing companies infinite possibilities for growth and expansion. Zeal Motor understands this and, thanks to its marketing strategy, it will be able to strengthen its position across Canada and in the United States."
Pierre Fitzgibbon, Minister of Economy and Innovation and Minister Responsible for the Lanaudière region
"By helping companies invest in equipment and machinery that will make them more efficient and by encouraging marketing and market development products, the Government of Canada is remaining true to its commitments. Our goal is to stimulate expansion, innovation and export. I am also pleased to know that these projects will help create more than 40 quality jobs in Montérégie."
The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED
"The goal of the National Research Council – Industrial Research Assistance Program (NRC-IRAP) is to provide innovation assistance for SMEs. It offers a range of technical and business advisory services, as well as financial assistance, to help companies like Zeal Motor strengthen their ability to innovate, overcome technical barriers and transform excellent ideas into business success."
David Lisk, Vice-President, National Research Council – Industrial Research Assistance Program.
- The goal of PEX is to raise awareness among Quebec businesses of the growth potential inherent in exports and to help them diversify and conquer foreign markets.
- CED is one of the six regional development agencies under the responsibility of Minister of Innovation, Science and Economic Development, the Honourable Navdeep Bains.
- For 50 years now, the Government of Canada has been actively participating in regional economic development in Quebec: a half-century of concrete actions dedicated to the growth of our regions and businesses.
- The National Research Council of Canada (NRC) is the Government of Canada's largest research organization. It is a key component of the Innovation and Skills Plan and of Budget 2018's commitment to supporting Canada's researchers to build a more innovative economy.
- The National Research Council – Industrial Research Assistance Program (NRC-IRAP) funds innovation. It offers small and medium-sized enterprises (SMEs) expert advice, funding, and access to talented recent graduates – helping over 8,200 firms yearly.
- NRC-IRAP has existed for more than 70 years and continues to produce made-in-Canada success stories by helping SMEs develop innovative technologies and successfully commercialize them in a global marketplace.
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- For more information about CED and its priorities, consult the 2018-19 Departmental Plan or visit the Canada Economic Development for Quebec Regions website.
- For more information about the NRC: www.nrc-cnrc.gc.ca/eng/index.html
- For more information about the NRC's Industrial Research Assistance Program (IRAP): www.nrc-cnrc.gc.ca/eng/irap/index.html
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SOURCE Canada Economic Development for Quebec Regions
For further information: Sources: Maryse Dubois, Press Agent, Office of the Minister for Education, Tel.: 450-931-0193; Mathieu St-Amand, Press Agent, Office of the Minister of Economy and Innovation, Tel.: 418-691-5650; Information: Jean-Pierre D'Auteuil, Media Relations Officer, Direction des communications, Ministère de l'Économie et de l'Innovation, Tel.: 418-691-5698, ext. 4868, Cell: 418-559-0710; Isabelle Fontaine, Senior Director, Affaires publiques et gouvernementales, Investissement Québec, Tel.: 514-876-9359; Media Relations, Canada Economic Development for Quebec Regions, Tel.: 514-283-7443, Email: [email protected]; Media Relations, National Research Council Canada, 613-991-1491, [email protected]